Belgian-based Auro Technologies raises $28 million from Chinese investors

(Tech.eu) – Belgium’s Auro Technologies has raised $28 million in funding from Chinese firm Beijing Jetsen Technology, which has taken a 20 percent stake.
Auro, which is a spin-off of Galaxy Studio Group, develops audio solutions for music and film, like its Auro-3D product, as well as solutions for industries such as automotive and gaming. The new funds will be used to further the company’s footing in these markets.
This investment will also aid Auro’s efforts to crack the Chinese market, as Beijing Jetsen Technology has a strong presence in the audio and film production industry in China. Auro Technologies said it will be opening new offices in China, as well as expanding in the US, and added that the company plans to make important announcements in the near future.
“We are focused on continuing to deliver superior customer experience and innovative products and services, and are striving to make the Auro-3D immersive sound experience available to consumers whenever and wherever they want,” said Wilfried Van Baelen, CEO of Auro Technologies.
He continued: “This strategic alliance with Beijing Jetsen Technology will allow us to make significant growth as a company and provides us with the additional resources needed to succeed, as our business plans progress over the course of the next year.”
Shengli Han, CEO of Beijing Jetsen Technology, seconded the plans for growth: “With the past two decade of legacy experience in media entertainment industry, we can leverage our resources to further grow Auro’s business in broadcast and consumer electronic market.”
 
You can subscribe to Tech.eu’s newsletter here.
This story originally appeared on Tech.eu.
Belgian-based Auro Technologies raises million from Chinese investors
Belgian-based Auro Technologies raises million from Chinese investors



Leave a Reply

Your email address will not be published. Required fields are marked *